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10 things you need to know before the opening bell

May 5, 2021, 17:16 IST
Business Insider
Lucas Jackson/Reuters

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1. US and European stocks recovered after Treasury Secretary Yellen eased inflation worries. See what markets are doing.

2. Mike Novogratz said he was too negative about dogecoin. His investment firm published a report saying the cryptocurrency should not be ignored.

3. Reddit's WallStreetBets members were targeted in a crypto scam. The fraudsters reaped Binance tokens worth around $2 million by offering a fake 'WSB Finance' coin.

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4. Corn prices jumped 142% in the last year. Demand from China and Latin America rose as supply fell.

5. Grayscale's bitcoin and ethereum funds generate as much revenue as Vanguard's ETF suite does combined. The two Grayscale funds made around $1 billion, reports showed.

6. Earnings expected. Look out for updates from PayPal, Uber, General Motors, Fox and Budweiser Brewing.

7. On the data docket. Monthly US private-sector payrolls and services activity data are due.

8. An ex-Ark analyst breaks down his bull case for Ethereum as its token breaches an all-time high of $3,300. James Wang explains why it could eventually reach $40,000.

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9. Goldman Sachs is searching the market for companies investing in future cash cows. The firm says to buy these 24 high-growth stocks that fit the bill.

10. Bank of America is closely monitoring millennials looking to buy their first homes. The firm shares 4 stocks to buy as droves of them become first-time owners in a red-hot market.

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